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BOC Singapore Eases Fixed Deposit Rates from 21 July 2025
Bank of China (BOC) Singapore has made a new update in its fixed deposit (FD) interest rates for individual depositors, effective from Monday, 21 July 2025. The rate adjustment comes just a week after BOC offered promotional returns of up to 1.82% on 14 July 2025, in line with shifting macroeconomic trends and tighter monetary conditions.
Despite the cut, BOC continues to offer a competitive promotional interest rate of up to 1.8% p.a. through its Mobile Banking App. This digital-exclusive offer is aimed at rewarding tech-savvy users who place a minimum of S$500 via mobile. In contrast, customers opting for in-branch services will need to deposit at least S$20,000 to enjoy lower returns of up to 1.5% p.a.
📊 Fixed Deposit Promotional Rates – Effective 21 July 2025
The newly revised rates apply solely to new personal time deposit placements. BOC has bifurcated its FD offerings into mobile and counter segments, incentivising digital adoption with better interest rates and lower placement thresholds.
| Currency | Tenor | Mobile Banking Promo Rates (New Placement) * | Counter Promo Rates | ||
|---|---|---|---|---|---|
| Minimum Amount | Interest Rates (% p.a.) | Minimum Amount | Interest Rates (% p.a.) | ||
| SGD | 1 month | S$500 | 1.70 | S$20,000 | 1.50 |
| 2 months | 1.80 | 1.50 | |||
| 3 months | 1.80 | 1.50 | |||
| 4 months | 1.75 | 1.50 | |||
| 5 months | 1.70 | 1.50 | |||
| 6 months | S$20,000 | 1.70 | 1.50 | ||
| S$500 | 1.65 | – | |||
| 9 months | S$500 | 1.60 | – | ||
| 12 months | S$20,000 | 1.55 | – | ||
| S$500 | 1.50 | – | |||
To access these promotional rates, customers must maintain a valid BOC Savings or Current Account. Only fresh placements qualify, and all interest figures remain indicative and may change without prior notice.
📌 Key Terms & Conditions
- Promotion is limited to individual account holders only.
- Rates are subject to revision at BOC’s discretion.
- Different rates apply based on deposit channel: mobile app versus counter.
- Early withdrawals may result in forfeiture of interest.
- Please check the latest terms and conditions on the official website before proceeding.
📍 Where to Learn More
Customers are encouraged to visit the BOC Singapore official site for full promotional details.
Walk-in assistance remains available via the BOC branch locator tool.
To benchmark rates across other banks in Singapore, click here.
Disclaimer: All rates are subject to change. Customers should verify all offers directly with BOC prior to placing deposits.
🏁 Conclusion
BOC Singapore’s latest move underscores a broader trend of digital channel prioritisation in the banking sector. While base interest rates are softening, savvy customers using mobile platforms can still lock in favourable returns with low minimums. As macroeconomic pressures reshape rate environments, individuals are urged to act quickly and monitor updates closely to optimise their savings strategy.
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